China's state-owned firms turn property developers

01/13/2010 | Wall Street Journal, The

In China, state-owned companies are trying their hand at real-estate development, building huge skyscrapers in a bid to cash in on the Chinese commercial-property boom. "We are a tobacco company, but the management is also thinking about the future," said an engineer with China National Tobacco, which has diversified its portfolio by building a 71-story office block in Guangzhou.

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Wall Street Journal, The

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